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Buyers

Home Selling Process

Watch this video for the 10 things you can do, to sell your home for top dollar!

The home-selling process begins long before you put your property on the market.

Below are the steps involved when selling your home:

1. Deciding to sell your home

The first step is the actual decision to sell. Besides personal reasons, you should factor into your decision the current real estate market, including seasonality, current market inventory vs. rate of sales, and your home’s current value. Our job is to provide expert advice as you make the best decision for you and your family.

2. Pricing your home

Our goal is for you to sell your home for maximum value within a reasonable marketing period. Setting an appropriate price for your property is the most important factor for success. Use comparable data from similar properties sold in the last three to six months to narrow down the value range of your property. Be objective as you compare your home to others. Does your property have better views, recent renovations, curb appeal, larger yard, and a new kitchen or bathrooms? We will help you figure out where your home fits in. Ultimately, it is the market and what buyers are willing to pay that determines the price of your home.

3. Preparing your home for sale

It takes a buyer eight seconds to judge a home. The minute a prospective buyer walks in the door is the most critical moment of a showing. A successful showing inspires the buyer to view the property as their future home. To create the conditions for success, you must make your property appear easy to live in and reduce or eliminate any major concerns.

1) De-clutter.

2) Take down and pack up anything personal.

3) Make sure the purpose of each room is clear.

4) Turn on all lights and open all window shades – buyers love a home that is bright and airy!

5) Make any necessary repairs or upgrades.

Sellers tip: Be ready for showings on short notice – they WILL happen. Be prepared to accommodate all buyers.

4. Offer/Negotiations

When we receive an offer for your property, you can choose to immediately accept the offer or make a counteroffer for a deal more favorable to you. Depending on the situation, this process can take days, but negotiations generally take about 24 to 48 hours. Price is not the only important element of an offer.

Contingencies (such as home inspection clause, mortgage clause, etc.) – These give the buyer the right to back out of the deal, depending on certain conditions up to a certain date.

Earnest money deposit – A larger deposit often indicates a more capable and serious buyer.

Closing date/Settlement date – The date when the transfer of the property takes place.

Down payment – A larger down payment usually means a well-qualified buyer.

As we go through the negotiation process, keep in mind that this is not only about the price of your home. The other elements make a big difference to the bottom line and to ensuring the buyers are qualified and ready to proceed with the purchase. Our job is to protect you and help you close the sale.

5. Buyers Home inspection

The buyer usually will complete a home inspection as well as lead, mold, and other optional inspections. This usually occurs within 7-10 days and may lead to renegotiation of the terms and conditions of the offer, especially if problems are discovered during the inspections.

6. Closing/Settlement

The closing typically takes place 30-45 days after you accept the offer. The title/ownership of the home transfers from seller to buyer and all monies are distributed.

Three days before settlement, the settlement attorney will prepare a settlement statement, the CD (Closing Disclosure), for you to review for accuracy. This form details all the money involved in the transaction. The buyer often chooses the settlement company, and the meeting typically lasts about an hour. Once the settlement is finished, you get the monies and the sale is officially complete!